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    1247 Cannady School Road SE Floyd, VA 24091

    View on Map
    For Sale
    $785,000

    Farm, Contemporary,Farm House - Floyd, VA

    Type:Farm
    Property size:
    16 SF
    Lot size:
    32.50 Acres
    Added:
    Dec 16, 2025
    Days on Market:
    107
    Last Refresh:
    Apr 2 at 1:06 am

    Property Features for 1247 Cannady School Road SE

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Parking features
    Carport
    Patio and Porch features
    Porch, Deck
    Interior features
    Custom Countertops, Walls-drywall, Wireless Int. Ready
    Exterior features
    Barn, Cable Available, Deck, Fencing-partial, Garden Space, Gravel Driveway, Other - See Remarks, Porch, Private Yard, Shed, Storm Doors, Storm Windows, Tractor Shed, Water Feature
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    032105A
    Size
    16 SF
    Lot size
    32.50 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    2389.2

    Utilities

    Heating system
    Heat Pump (Heating)
    Cooling system
    Heat Pump

    Building Details

    Year built
    2012
    Floors in Building
    1
    Roof type
    Shingle
    Architectural style
    Contemporary
    Additional Structures
    Barn(s), Packing Shed, See Remarks, Shed(s)

    We can help!

    Listing Contact
    Linda DeVito

    Listing agent Linda DeVito License #225177719

    Listing office UC/Blue Ridge Land & Auction PO Box 234, Floyd, VA

    Listing date Dec 16, 2025

    MLS# 426014 Listing URL

    Copyright © 2026 New River Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Floyd County Farm with Pond

    This 32.498-acre farm in Floyd County is suited for horses and livestock, featuring a farm building and a spring-fed stocked pond. The property includes tree-lined road frontage and large oak trees, with a mix of pasture and woods, wooded trails, and open pasture. The main floor has a 2048 sqft open floor plan with a vaulted ceiling in the great room, a separate dining area, and a kitchen. The light-filled kitchen features walnut and off-white cabinets, granite countertops, a large island with a cooktop, double ovens, and stainless steel appliances. The property includes a front covered porch, back deck, and side porch. The basement has laundry, and is framed and wired for bedrooms, a kitchen, and a large bathroom, with daylight windows and a separate workspace. There is a dressage arena for horses with some automatic water troughs in some pastures. Equipment conveys with the farm.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Map

    City
    Floyd
    County
    Floyd
    State
    Virginia
    Longitude
    -80.2070267
    Latitude
    36.9645227

    FAQs

    What type of property is this?
    Farm - 32.498 acre farm ready for horses and livestock.
    Where is this farm located?
    The property is located at 1247 Cannady School Road SE Floyd, VA.
    What is the asking price?
    The asking price for this property is $785,000.
    What are key features of this property?
    This property features: 32.498 acre farm, ideal for horses and livestock, featuring pasture, woods, and a pond.; 2048 sqft open floor plan with vaulted ceiling and separate dining area.; Kitchen boasts walnut and off‑white cabinets, granite countertops, large island with cooktop, double ovens, and stainless steel appliances.
    (540) 230-7255
    We can help!
    Listing Contact
    Linda DeVito
    Real Estate License ID: 225177719
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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